Patel, Aditya and Tiwary, Manish Kumar
Evaluating ecosystem services: the role of the finance commission in TEEB implementation - Indian Institute of Public Administration Digest - 6(3), Jul-Sep, 2024: p.32-35
The Economics of Ecosystems and Biodiversity (TEEB) is a comprehensive global initiative focused on illuminating the critical value of nature and ensuring it is embedded within economic decision-making frameworks. The core mission of TEEB is to incorporate the essential values of biodiversity and ecosystem services into policy-making and business strategies, addressing these at various levels from local communities to international bodies. This initiative employs a detailed and structured approach to valuation, which helps decision-makers grasp the extensive array of benefits that ecosystems and biodiversity provide. The process begins with the recognition of the myriad services that ecosystems offer, such as clean air and water, pollination of crops, and climate regulation. This recognition phase is crucial for understanding how deeply human well-being and economic stability are intertwined with healthy ecosystems. Following this, TEEB focuses on demonstrating these benefits in economic terms. Through a variety of valuation methods, such as cost-benefit analysis, contingent valuation, and ecosystem service mapping, these benefits are quantified. This economic demonstration makes the benefits of biodiversity and ecosystems tangible and comparable to other economic assets, facilitating their inclusion in traditional economic metrics.- Reproduced
https://www.iipa.org.in/GyanKOSH/posts/evaluating-ecosystem-services-the-role-of-the-finance-commission-in-teeb-implementation
Evaluating ecosystem services: the role of the finance commission in TEEB implementation - Indian Institute of Public Administration Digest - 6(3), Jul-Sep, 2024: p.32-35
The Economics of Ecosystems and Biodiversity (TEEB) is a comprehensive global initiative focused on illuminating the critical value of nature and ensuring it is embedded within economic decision-making frameworks. The core mission of TEEB is to incorporate the essential values of biodiversity and ecosystem services into policy-making and business strategies, addressing these at various levels from local communities to international bodies. This initiative employs a detailed and structured approach to valuation, which helps decision-makers grasp the extensive array of benefits that ecosystems and biodiversity provide. The process begins with the recognition of the myriad services that ecosystems offer, such as clean air and water, pollination of crops, and climate regulation. This recognition phase is crucial for understanding how deeply human well-being and economic stability are intertwined with healthy ecosystems. Following this, TEEB focuses on demonstrating these benefits in economic terms. Through a variety of valuation methods, such as cost-benefit analysis, contingent valuation, and ecosystem service mapping, these benefits are quantified. This economic demonstration makes the benefits of biodiversity and ecosystems tangible and comparable to other economic assets, facilitating their inclusion in traditional economic metrics.- Reproduced
https://www.iipa.org.in/GyanKOSH/posts/evaluating-ecosystem-services-the-role-of-the-finance-commission-in-teeb-implementation